{"abstract":"The Federal Insurance Office (FIO) of the U.S. Department of the Treasury (Treasury) issues this notice pursuant to its authority to monitor the extent to which traditionally underserved communities and consumers, minorities, and low- and moderate-income (LMI) persons have access to affordable personal automobile insurance. In July 2015, FIO sought comments from stakeholders, including state insurance regulators, consumer organizations, representatives of the insurance industry, policyholders, academics, and others regarding: FIO's proposed working definition of \"affordability\" in relation to personal automobile insurance; the key factors FIO should use to calculate an affordability index for Affected Persons (e.g., premium, income, and other metrics); and how best to obtain appropriate data to monitor effectively the affordability of personal automobile insurance for Affected Persons. After carefully considering all the comments received in response to this and a previous solicitation, in conjunction with additional research and consultation, FIO has adopted a method to measure the affordability of automobile insurance for Affected Persons: FIO will calculate its Affordability Index by dividing the average (or mean) annual written personal automobile liability premium in the voluntary market by the median household income for U.S. Postal Service ZIP Codes (ZIP Codes) identified as being majority-minority or majority-LMI. FIO will presume that personal automobile liability insurance is affordable for Affected Persons if the Affordability Index is less than or equal to 2 percent. To undertake the study of the affordability of automobile insurance for Affected Persons, FIO will collect and analyze premium data received and aggregated by statistical agents. In addition, FIO will use data publicly available through the U.S. Census Bureau. In combination, these data sources should facilitate analysis necessary for FIO to monitor the affordability of personal auto insurance for Affected Persons. FIO will report its findings annually, and note, among other things, the trend of the Affordability Index relative to each of the ZIP Codes analyzed.","action":"Notice; advising adoption of methodology to monitor affordability of personal automobile insurance.","agencies":[{"raw_name":"DEPARTMENT OF THE TREASURY","name":"Treasury Department","id":497,"url":"https://www.federalregister.gov/agencies/treasury-department","json_url":"https://www.federalregister.gov/api/v1/agencies/497","parent_id":null,"slug":"treasury-department"}],"body_html_url":"https://www.federalregister.gov/documents/full_text/html/2016/07/13/2016-16536.html","cfr_references":[],"citation":"81 FR 45372","comment_url":null,"comments_close_on":null,"correction_of":null,"corrections":[],"dates":null,"disposition_notes":null,"docket_ids":[],"dockets":[],"document_number":"2016-16536","effective_on":null,"end_page":45381,"executive_order_notes":null,"executive_order_number":null,"explanation":null,"full_text_xml_url":"https://www.federalregister.gov/documents/full_text/xml/2016/07/13/2016-16536.xml","html_url":"https://www.federalregister.gov/documents/2016/07/13/2016-16536/monitoring-availability-and-affordability-of-automobile-insurance","images":{},"images_metadata":{},"json_url":"https://www.federalregister.gov/api/v1/documents/2016-16536?publication_date=2016-07-13","mods_url":"https://www.govinfo.gov/metadata/granule/FR-2016-07-13/2016-16536/mods.xml","not_received_for_publication":null,"page_length":10,"page_views":{"count":1592,"last_updated":"2026-04-04 18:15:03 -0400"},"pdf_url":"https://www.govinfo.gov/content/pkg/FR-2016-07-13/pdf/2016-16536.pdf","presidential_document_number":null,"proclamation_number":null,"public_inspection_pdf_url":"https://public-inspection.federalregister.gov/2016-16536.pdf?1468327662","publication_date":"2016-07-13","raw_text_url":"https://www.federalregister.gov/documents/full_text/text/2016/07/13/2016-16536.txt","regulation_id_number_info":{},"regulation_id_numbers":[],"regulations_dot_gov_info":{"checked_regulationsdotgov_at":"2016-08-02T06:00:32Z"},"regulations_dot_gov_url":null,"significant":null,"signing_date":null,"start_page":45372,"subtype":null,"title":"Monitoring Availability and Affordability of Automobile Insurance","toc_doc":"Monitoring Availability and Affordability of Automobile Insurance","toc_subject":null,"topics":[],"type":"Notice","volume":81}